Solar power to trump shale gas, helped by US military | Ambrose Evans-Pritchard (UK Telegraph)
Complete guide to US solar energy, including updates on data, technology & forecasts:
US Department of Defense (DoD) is investing heavily in solar & the Department of Energy’s (DoE) “SunShot Initiative” is redoubling grants for R&D–all reminiscent of semiconductors in 1980s.
DoE expects 75% drop in average solar power costs by 2020 (to $1/watt for utilities, $1.25 for commercial & $1.50 for residential).
The world is already undergoing nonlinear demand surge, since prices in 10 major markets are already below parity ($0.60-70) without subsidies: Japan, South Korea, Australia, Italy, Greece, Spain, Israel, South Africa, Chile, Southern California & Hawaii; to be joined shortly by Thailand, Mexico, Argentina, Turkey & India.
$TAN #Alternative & Renewable Energy

The recession of 1937-38 was really caused by US Treasury’s gold sterilization (September 2011) | Douglas Irwin (VoxEU)
The Great Depression’s double-dip is often blamed on premature tightening (fiscal deficit reduction & Fed raising reserve rate requirements), but banks already had excess reserves to meet increased RRRs, so something else was responsible:
1/1934- The US returned to a gold standard by pegging the USD to gold @ $35/oz at a time when gold reserves were 85% of the monetary base; strong gold inflows ensued, expanding US money supply & an economic recovery
12/1936- For fear of inflation, FDR & the Treasury started sterilizing all gold inflows by holding new gold in an idle Treasury account instead of at the Fed, where it otherwise would’ve joined the monetary base; money supply (M2) froze between 1937-38, having grown +12% per annum from 1934-36; the economy tipped into recession in 2q1937
4/1938- The Treasury reversed its policy & began desterilizing gold inflows; the economy recovered in 6/1938
[This is actually a pretty widely held view: Previously]